MTNL considering selling, leasing real estate, towers, ducts

State-run telecom operator Mahanagar Telephone Nigam Ltd said that it is considering proposal for assets monetization for debt reduction. The assets monetization will include lease or sale of real estate, buildings, and lease or sale of towers and ducts.

MTNL has made a pitch to the Department of Telecommunication to monetise its real estate properties in Delhi and Mumbai. According to a report in the Financial Express, the telco is planning to raise around Rs. 4,000 crore from selling its land bank and leasing out its buildings.

MTNL has commercial land of around 2.5 million square feet and residential property of 4 million sq ft, apart from office spaces in the posh commercial hubs of South Bombay, and Karol Bagh and Chanakyapuri in Delhi.

Several people ET spoke with about Ericsson’s India operations, including its current and former employees, said the Stockholm-based firm has reduced headcount in the last one year or so across functions, in line with its global restructuring.